Answer:
$33,400
Explanation:
Given that,
Accounts Receivable = $1,130,000
Allowances for Doubtful Accounts = $23,100
Estimated bad debts:
= 5% of outstanding receivables
= 0.05 × $1,130,000
= $56,500
We simply deduct the allowance for doubtful accounts balance from the estimated bad debts to record the amount of bad debt expense.
Amount of bad debt expense will the company record:
= Estimated bad debts - Allowances for Doubtful Accounts
= $56,500 - $23,100
= $33,400
To partially eliminate the problems that are associated with the short-term focus of return on investment, residual income, and EVA, the performance of a division's major investments is commonly evaluated through (E) post audits.
<h3>
What are post audits?</h3>
- The post-audit procedure establishes a formal process (feedback) for assessing whether existing initiatives should be continued, extended, or discontinued.
- That is, the post-audit gives useful information that can be used to fix problems before an investment's performance is jeopardized.
- The purpose of the post-audit review process is to ensure that management has addressed all of the recommendations given in the Audit Report.
- The Post-Audit Review occurs shortly after the agreed-upon implementation deadline, which management committed to in the management response.
Therefore, to partially eliminate the problems that are associated with the short-term focus of return on investment, residual income, and EVA, the performance of a division's major investments is commonly evaluated through (E) post audits.
Know more about post audits here:
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Answer:
d. Claims exchange transaction
Explanation:
Claims exchange transaction -
It refers to any discrepancy in the claims , is referred to as claims exchange transaction .
In this case the claim of one reduces and others increases and hence the total claim remains constant .
Hence , from the given scenario of the question ,
The correct option is d. Claims exchange transaction .
Answer:
The correct option is B.
Explanation:
The marginal benefit is the maximum amount which a person or individual is willing to pay in order to have an additional service or benefit. It is the additional satisfaction, which the person receives when an additional service or good is purchased.
So, in this case, Cassie need or require some special fabric which cost her $200 that is the additional amount she need to pay in order to complete the task. But alternatively, she could sell the quilt for $900. Therefore, she had a marginal benefit of $900, if sells the quilt as is now.
Answer:
<em>Collections for September is $ 57,100</em>
Explanation:
Computation of cash receipts for September
Collections from cash sales of September $ 5,000
Collections from credit sales of August - 57 % of $ 50,000 $ 28,500
Collections from credit sales of September 40 % of $ 59,001 <u>$ 23,600 </u>
Total collections for September $ 57,100
